Seacon Shipping Group Holding Limited makes its initial public offering on the main board of the Hong Kong Stock Exchange on March 29. [Photo/WeChat account: huzhoufabu]

Seacon Shipping Group Holding Limited made its initial public offering on the main board of the Hong Kong Stock Exchange on March 29, becoming the fourth company from Huzhou, East China's Zhejiang province to be listed this year.

A comprehensive service provider of one-stop shipping solutions, the company raised HK$408 million ($51.98 million) after issuing 125 million shares each priced at HK$3.27.

Backed by Huzhou Wuxing Transportation Tourism Investment Development Group Co Ltd, Seacon is the fifth largest marine services company and the fifth largest dry bulk shipping company headquartered in China.

The company's listing has brought the number of listed companies in Huzhou to 53.

The steady increase in the number of listed companies in Huzhou can be attributed to the city's efforts in implementing the "Phoenix Action" plan, an initiative launched by Zhejiang to provide support to enterprises seeking to go public.